Absolutly correct! Mining companys are usually 5 year plays if they are started upon from stratch.
When and if they get to drilling, and if they find something, these stocks tend to jump on very volitle trading as we have seen today.
They have created a float of 5 million shares. I suppose they figured that the funds they can finance with 5 million shares will take them well into their exploration projects.
Until substansial minerals are found, I would trade this stock for what it is. A flip play!
The only monster here is the gambling monster that has enslaved your mother! I call him Gamblor!!!